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  • #5,061
  • Jul 6, 2017 1:47pm Jul 6, 2017 1:47pm
Quoting Madinvestor
{quote} Please PM me as well if you would, along with your broker of choice. I am considering going offshore for the same reasons as well.
me, too
  • #5,062
  • Jul 10, 2017 8:42am Jul 10, 2017 8:42am
Oanda is fine if not scalping. I'm a swing/long term trader these days and haven't had any probs. I use Dukascopy ECN too.
Keeping it Simple
  • #5,063
  • Jul 11, 2017 9:37am Jul 11, 2017 9:37am
Quoting pipmaster77
{quote} This is exactly what I do. Especially since the NFA does not allow segregation of funds in forex accounts, your money is not protected anyway. I simply feel I have way less at risk offshore as I keep 70-75% of my trading capital in my own bank account, where it is FDIC insured. I'm going to send you a PM explaining exactly how I do it. I'm short on time right now as I am on vacation up north, but I will contact you tonight.
Please kindly send me your technique and broker suggestions also.
Thanks
  • #5,064
  • Jul 16, 2017 8:12am Jul 16, 2017 8:12am
Quoting pipmaster77
{quote} This is what happens when trading with a broker who holds the other side of your trade. They will pull all the tricks to make you lose. C'mon, Oanda fans, tell me I'm wrong like you always do, but its the facts. Told everyone about FXCM years ago and people always wanted to debate. Of course, those people don't come on and debate any longer. Forex.com is an absolute scam as well. I feel so much better with my "unregulated" offshore broker. I know, those same US broker fans tell me I'm crazy, but I do not experience any of the issues people...
Hi pipmaster77, good morning.
Is there any legal issues in opening Forex Account with offshore broker? Does CFTC have any say on client opening accounts Or it just restricts the broker from accepting clients? I heard that CFTC has a rule that prevents US resident from opening an offshore account. I asked the person to show me the rule and he never got back to me.

Can you please shed some light friend?


Thanks
  • #5,065
  • Jul 16, 2017 8:19am Jul 16, 2017 8:19am
Quoting Mr Breakout
{quote} Who says anything about scalping?? Do you seriously believe the average retail trader spends his time scalping the Forex all day? Come on. That said some FX brokers can and do play tricks on some traders, no doubt, especially the scalpers and other very short-term traders. You know, the ones who try to outsmart their broker with a 7 pip stop. {quote} If you are a consistent winner on the higher time frames (4h charts or more for example) and your stops are wide enough (or not even visible on his/your platform) your FX broker will simply...
I agree. but most traders are scalpers or day traders. And their fear is losing pips and greed is gaining more pips.
your comments are valid for long term traders who keeps the trade open for several days. Even I had issues with US broker where the set TP weren't hit, missed by few pips for my swing trades...that frustrated me...In the mean time, my offshore broker filled that TP.
Now tell me, which one I prefer?
  • #5,066
  • Jul 17, 2017 9:05pm Jul 17, 2017 9:05pm
I use oanda long time ago , they are the best ...
  • #5,067
  • Jul 17, 2017 10:08pm Jul 17, 2017 10:08pm
Quoting iWayFxMate
{quote} Hi pipmaster77, good morning. Is there any legal issues in opening Forex Account with offshore broker? Does CFTC have any say on client opening accounts Or it just restricts the broker from accepting clients? I heard that CFTC has a rule that prevents US resident from opening an offshore account. I asked the person to show me the rule and he never got back to me. Can you please shed some light friend? Thanks
You are correct, there is no law preventing you from opening an offshore account. The law is if you accept US clients as a broke, you must be registered with the CFTC and all there ridiculous regulations (low leverage, no hedging, FIFO) apply. This is why only unregulated brokers will accept US clients. This is due to the fact that they(CFTC) have now overeached their jurisdiction so far that they prevent legitimate, regulated brokers from accepting US clients. This is all under the guise of "protecting" us. So tell me am I better off with Dukascopy (who we can not trade with), a Swiss regulated bank who insures your funds up to 100K CHF and provides a true DMA environment or a market making bucketshop like Oanda or Forex.com, not only trading against me and pulling all the sleazy tricks to take my money but also no protection of funds whatsoever. Yeah, thanks for looking out for the trader CFTC!!
  • #5,068
  • Jul 17, 2017 10:11pm Jul 17, 2017 10:11pm
Quoting iWayFxMate
{quote} I agree. but most traders are scalpers or day traders. And their fear is losing pips and greed is gaining more pips. your comments are valid for long term traders who keeps the trade open for several days. Even I had issues with US broker where the set TP weren't hit, missed by few pips for my swing trades...that frustrated me...In the mean time, my offshore broker filled that TP. Now tell me, which one I prefer?
Exactly, love when others grasp the fact that the offshore brokers are providing a much better trading environment. Not all of them, due your homework, but there are 3-4 very trustworthy offshore brokers who I feel way more comfortable trading with.
  • #5,069
  • Jul 18, 2017 9:22am Jul 18, 2017 9:22am
I want to trade bitcoin. Does Oanda have bitcoin?
  • #5,070
  • Jul 27, 2017 6:15am Jul 27, 2017 6:15am
Quoting pipmaster77
{quote} Exactly, love when others grasp the fact that the offshore brokers are providing a much better trading environment. Not all of them, due your homework, but there are 3-4 very trustworthy offshore brokers who I feel way more comfortable trading with.
Hello. Can you send me a PM of more information of the last sentence? I have done much research and sifting through blogs but not getting what I need as I am a US citizen and trying to open my options for brokers/trading.
  • #5,071
  • Jul 27, 2017 6:18am Jul 27, 2017 6:18am
Quoting dwe213
{quote} me, too
Me too (a PM message of recommendations), please.
  • #5,072
  • Jul 31, 2017 3:42pm Jul 31, 2017 3:42pm
So Oanda why can't I Add or close positions? Chat is unreachable and I've been on hold for 2 hours. Are you guys insolvent? Get Hacked? I want all my funds accounted for.
Attached Image
"Diversification is an excuse for a lack of talent" ~FXC
  • #5,073
  • Jul 31, 2017 4:03pm Jul 31, 2017 4:03pm
Quoting FXCapitalist
So Oanda why can't I Add or close positions? Chat is unreachable and I've been on hold for 2 hours. Are you guys insolvent? Get Hacked? I want all my funds accounted for. {image}
trying to buy back into those shorts huh? i'm sure they will account for all that's left in that account after the margin call


.....they're good at crediting errors..
  • #5,074
  • Jul 31, 2017 4:28pm Jul 31, 2017 4:28pm
Quoting hilmy83
{quote} trying to buy back into those shorts huh? i'm sure they will account for all that's left in that account after the margin call .....they're good at crediting errors..
No they're mad I'm making money, resolved it tho.
"Diversification is an excuse for a lack of talent" ~FXC
  • #5,075
  • Aug 2, 2017 12:09pm Aug 2, 2017 12:09pm
Been with Oanda now for about 8 or 9 years.
Never a problem until now.
Just tried withdrawing my total balance and they are making it difficult.
Made many smaller withdrawals before with no problem.
I'll update if I have any success.
Just hope I
Where price is now, it has been before, and will be again.
  • #5,076
  • Aug 2, 2017 12:10pm Aug 2, 2017 12:10pm
Been with Oanda now for about 8 or 9 years.
Never a problem until now.
Just tried withdrawing my total balance and they are making it difficult.
Made many smaller withdrawals before with no problem.
I'll update if I have any success.
Just hope I don't have the expense of going to a lawyer.
Where price is now, it has been before, and will be again.
  • #5,077
  • Aug 2, 2017 12:11pm Aug 2, 2017 12:11pm
Quoting Jenx
Been with Oanda now for about 8 or 9 years. Never a problem until now. Just tried withdrawing my total balance and they are making it difficult. Made many smaller withdrawals before with no problem. I'll update if I have any success. Just hope I
Sorry to hear that. What withdrawal method are you using, and what's the problem?
  • #5,078
  • Aug 2, 2017 12:37pm Aug 2, 2017 12:37pm
Quoting dwe213
{quote} Sorry to hear that. What withdrawal method are you using, and what's the problem?
Same as always. I have withdrawn to my present account on previous occasions.
They now say,due to the amount, they can only withdraw to an old account that they know has been closed.
They are at present asking for a handwritten signature to say that that the account is no longer in use.
I am sure I will eventually get my money back, but god knows when.
I would just say to people be very wary of them.
You may have no problems making withdrawals whilst you hold a balance with them but its looking like its not so simple when you are emptying your account.
Where price is now, it has been before, and will be again.
  • #5,079
  • Aug 2, 2017 1:09pm Aug 2, 2017 1:09pm
Quoting Jenx
{quote} Same as always. I have withdrawn to my present account on previous occasions. They now say,due to the amount, they can only withdraw to an old account that they know has been closed. They are at present asking for a handwritten signature to say that that the account is no longer in use. I am sure I will eventually get my money back, but god knows when. I would just say to people be very wary of them. You may have no problems making withdrawals whilst you hold a balance with them but its looking like its not so simple when you are emptying...
sounds like banking issue here

i've wihdrawin my original deposit+profits with oanda, meaning that oanda doesn't hold original deposits..
but this means that maybe they're trying to make sure you stay with them? lol

keep us updated

but like i said, sounds to me like banking issue, plus you're in france, meaning all ohter details might be missing here..
  • #5,080
  • Aug 2, 2017 1:32pm Aug 2, 2017 1:32pm
Quoting hilmy83
{quote} sounds like banking issue here i've wihdrawin my original deposit+profits with oanda, meaning that oanda doesn't hold original deposits.. but this means that maybe they're trying to make sure you stay with them? lol keep us updated but like i said, sounds to me like banking issue, plus you're in france, meaning all ohter details might be missing here..
Cant believe in 2017,I have to print off a very amateur form, sign and date it, then take a photo with my phone and send it back.
I'm astounded.
Reckon this is going to take a while!!!
Where price is now, it has been before, and will be again.
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